Entropy Technologies LP Takes Position in Pinnacle Financial Partners, Inc. $PNFP

Entropy Technologies LP bought a new position in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the first quarter, Holdings Channel reports. The firm bought 20,143 shares of the company’s stock, valued at approximately $1,735,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brown Brothers Harriman & Co. purchased a new stake in Pinnacle Financial Partners during the third quarter worth about $26,000. High Point Wealth Management LLC bought a new position in shares of Pinnacle Financial Partners during the 4th quarter valued at approximately $27,000. BOKF NA increased its stake in shares of Pinnacle Financial Partners by 1,204.5% during the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares during the last quarter. Activest Wealth Management purchased a new stake in shares of Pinnacle Financial Partners during the 4th quarter worth approximately $28,000. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Pinnacle Financial Partners by 175.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 339 shares of the company’s stock worth $32,000 after purchasing an additional 216 shares during the period. 87.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PNFP shares. JPMorgan Chase & Co. reduced their price objective on Pinnacle Financial Partners from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Friday. UBS Group lifted their price objective on Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Robert W. Baird began coverage on Pinnacle Financial Partners in a research note on Tuesday, May 19th. They issued an “outperform” rating and a $115.00 price objective on the stock. Piper Sandler upped their price objective on shares of Pinnacle Financial Partners from $122.00 to $123.00 and gave the company an “overweight” rating in a report on Friday. Finally, Weiss Ratings raised shares of Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $116.82.

Pinnacle Financial Partners Stock Up 0.6%

Pinnacle Financial Partners stock opened at $103.22 on Tuesday. The stock has a market capitalization of $8.01 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 0.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.93 and a current ratio of 0.94. The business’s 50-day simple moving average is $98.07. Pinnacle Financial Partners, Inc. has a 52 week low of $81.08 and a 52 week high of $107.00.

Pinnacle Financial Partners (NYSE:PNFP) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.46 by $0.04. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%.The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. On average, research analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.18 earnings per share for the current year.

Pinnacle Financial Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 7th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 1.9%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 27.47%.

Pinnacle Financial Partners Profile

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.